Gold moved above the "protective stop-loss" level (which means that if there was any position in gold, it was just closed at a small profit), and even though I'm not featuring a trade in gold, I thought that you'd appreciate a quick follow-up from me, anyway.

At the moment of writing these words, gold is trading at about $1,863, so almost $20 above the exit level, and in my opinion the short position could already be re-entered right now (no stop-loss at this point).

Nothing else (neither silver nor mining stocks) moved to their protective stop-loss levels, so those short positions remain fully intact.

Please note that silver shot up substantially today. Silver appears to be playing a catch-up with gold, which - as you know - is something that we tend to see right before big slides. Consequently, we have a fresh BEARISH sign, not a bullish one.

Today's sharp rally in gold remains in tune with what happened in mid-2022, so what I wrote about gold's medium-term chart in today's regular (flagship) analysis, remains up-to-date.

So, all in all, the outlook remains extremely bearish, and the enormous profit potential for our already-profitable positions in junior miners (and FCX, if one participated in this trade) are likely to become enormous in my view in the following months (and probably weeks).

Thank you.

Sincerely,
Przemyslaw K. Radomski, CFA
Founder, Editor-in-chief